Free Trial

Looking Heavy, Pressuring 2018 Low...>

EURO-YEN TECHS
EURO-YEN TECHS: Looking Heavy, Pressuring 2018 Low
*RES 4: Y133.43 Hourly support Feb 13 now resistance
*RES 3: Y133.05 High Feb 21
*RES 2: Y132.78 Hourly resistance Feb 21
*RES 1: Y132.43 Hourly support Feb 22 now resistance
*PRICE: Y131.76 @ 0530GMT
*SUP 1: Y131.51 2018 Low Feb 16 
*SUP 2: Y131.15 Monthly Low Nov 20 
*SUP 3: Y131.13 200-DMA 
*SUP 4: Y130.50 Low Sept 14
*COMMENTARY: Despite daily studies correcting from O/S adding support, bulls
failed to capitalise on Wednesday's gains with the pair again looking heavy and
immediate pressure on the 2018 lows and overall focus on Y130.50-131.51. A close
below Y130.50 is needed to confirm a break of the 200-DMA and shift initial
focus to Y127.52-129.25. Bulls need a close above Y133.43 to gain breathing room
and above the 55-DMA (Y134.36) to target 2018 highs (Y137.50).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.